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Judgment
This is an application filed by the appellant praying for following reliefs:
(a)Allow the instant application and permit the erstwhile directors of M/s Shaila Clubs to pursue/prosecute the Review Petition No. 38 of 2023 om W.P. (C) No. 11610 of 2022 pending before the Hon’ble Bombay High Court which is already seized of the subject matter of the present matter; and
(b)Pass any other or further order/s as this Hon’ble Tribunal may deem fit and proper in the facts and circumstances of the case.
It is submitted by Ld. Counsel for the Appellant that Review Petition No. 38 of 2023 in W.P. (C) No. 11610 of 2022 was filed before the Bombay High Court by the Corporate Debtor prior to initiation of the CIRP and after initiation of CIRP, the Review Petition is not being amply prosecuted by the Resolution Professional.
It is submitted that appellant has also filed an intervention application/impleadment in Review Petition No. 38 of 2023. Ld. Counsel for the Financial Creditor/ Respondent No. 1 submits that it is for the Bombay High Court to grant leave to the appellant to prosecute the Review Petition No. 38 of 2023.
We are of the view that the appellant being Suspended Director of the Corporate Debtor and the Review was filed prior to initiation of CIRP, it is in the discretion of the High Court to grant leave to permit the appellant to prosecute the Review Petition No. 38 of 2023.
We further observe that this in no manner shall preclude the RP to appear and prosecute the Review Petition who is now entitled to prosecute.
We make it clear that we are not expressing any opinions on the merits of the application.
Application is disposed of.
List these appeals on 10.02.2025 at 2: 00 PM high on board.
Interim order to continue.